Latest news with #AugustFutures
Yahoo
2 days ago
- Business
- Yahoo
Soybeans Close Lower on Thursday as Products Add Pressure
Soybeans fell lower on Thursday, with contract falling 14 to 16 ½ cents, as August expired down 3 ¼ at $10.08 ½. The cmdtyView national average Cash Bean price was down 16 3/4 cents at $9.65 1/4. Soymeal futures were back down $1.80 to $3.30/ton on the day, with Soy Oil futures down 76 to 140 points. August futures expired across the complex. Export Sales data showed a total of net reductions of 377,610 MT old crop sales during the week of August 7. That was a MY low, but is fairly normal in the last month of the market year. The Netherlands was the buyer of 68,900 MT, with net reductions were unknown of 184,900 MT and 158,300 MT for Mexico. New crop business exceeded estimates at 1.133 MMT, without China getting involved. That was a MY high and 15% above the same week last year. Unknown was the buyer of 424,200 MT, with 251,100 MT for Mexico. More News from Barchart Coffee Prices Rally on Light Frost in Brazil and Drop in Brazilian Robusta Exports Coffee Prices Rally on Light Frost in Brazil Cocoa Prices Fall Back After Recent Rally on Dry West African Weather Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! Meal bookings totaled 272,970 MT, was in the middle of the estimated range of 150,000 to 500,000 MT, as there were 26,320 MT for the current MY and 246,650 MT for next MY. Bean oil sales were just 732 MT, between 0 and 22,000 MT. CONAB data was released this morning, with the Brazilian soybean crop coming in 0.16 MMT higher mo/mo to 169.65 MMT. Abiove estimates the crop at 170.3 MMT, a 0.6 MMT increase from last month NOPA data will be released on Friday, with analysts expecting to see 191.59 mbu of soybeans crushed during July. Soybean Oil stocks are estimated at 1.38 billion lbs. Aug 25 Soybeans closed at $10.08 1/2, down 3 1/4 cents, Nearby Cash was $9.65 1/4, down 16 3/4 cents, Sep 25 Soybeans closed at $10.07 1/2, down 16 1/2 cents, Nov 25 Soybeans closed at $10.28 1/2, down 15 3/4 cents, New Crop Cash was $9.58 3/4, down 16 1/4 cents, On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Yahoo
4 days ago
- Business
- Yahoo
Soybeans Rally as USDA Slashes Acreage
Soybeans closed out the Tuesday session with contracts up 21 to 22 ¼ cents across the front months. The cmdtyView national average Cash Bean price was up 20 1/4 cents at $9.72 3/4. Soymeal futures were $0.70 to $2.10/ton higher. Soy Oil futures were 1 to 15 points in the green. There were another 128 August soybean meal deliveries overnight, with 87 issued for soybean oil. August futures expires on Thursday. This morning's Crop Production report showed offsetting changes on the supply side, as acreage was cut a massive 2.5 million acres to 80.9 million. Yield was pegged at 53.6 bpa, which was above the trade ideas of 53 bpa coming in. Production was tallied at 4.292 bbu, a 43 mbu reduction from the July WASDE vs. an estimated 39 mbu hike coming in. More News from Barchart Coffee Prices Settle Sharply Higher as Supplies Tighten Grain Traders Await Key USDA Report on August 12. Big US Corn, Soybean Crops Expected. Cocoa Prices Rally on Dry West African Weather Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! Old crop carryout was cut by 20 mbu to 330 mbu, as exports say a 10 mbu hike and crush was up 10 mbu. New crop stocks were shown 30 mbu tighter to 290, as the drop in production was offset by a drop to exports. World carryout for new crop was down 1.17 MMT to 124.9 MMT as the US number tightened things down and old crop South American output was unchanged. Crop Progress data from NASS on Monday afternoon showed 91% of the US bean crop blooming by Sunday, with 71% setting pods, both 1% behind normal. Soybean conditions were down another 1 percentage point to 68% gd/ex, with the Brugler500 index dropping back 1 point to 374. Ratings in IN, IA, and MN were up a point, with MI up 5, NE improving 3 and SD up 5. The deterioration was seen in IL, down 11, with MO slipping 1, ND down 4, OH down 3, and TN falling 32 points. Brazilian soybean exports in August are estimated at 8.8 MMT according to ANEC, which was up from the 8.15 MMT number prior and would be above the 8.04 MMT total from last year. Aug 25 Soybeans closed at $10.11 3/4, up 22 1/4 cents, Nearby Cash was $9.72 3/4, up 20 1/4 cents, Sep 25 Soybeans closed at $10.12 3/4, up 21 cents, Nov 25 Soybeans closed at $10.32 3/4, up 21 1/2 cents, New Crop Cash was $9.63 1/2, up 21 1/4 cents, On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
